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| Economy | |
| An Ungrateful Nation Turns Its Back On Fracking | |
| 2016-04-02 | |
| [INVESTORS] Energy: The benefits of “fracking” have never been greater. Prices are lower and the country is emitting less CO2. Yet most people now oppose fracking. What gives? A Gallup poll taken in early March shows that 51% of Americans say they oppose fracking “as a means of increasing production of natural gas and oil in the U.S.” That’s up from 40% just one year ago. Even more surprising, the drop in overall support is largely the result of a shift among Republicans. While 66% supported fracking last year, a bare majority (55%) do now. Support was steady among independents (35% vs. 34%) and Democrats (26% vs 25%). Gallup speculates that lower gas prices and a decline in the share of Americans worried about energy shortages are behind the decline. This makes absolutely no sense. The drop in gasoline prices is a direct result of fracking, which has turned the U.S. into an oil producing giant. In fact, the drop in gasoline prices compared with 2014 will save the average household $1,000 this year, on top of the $660 saved last year. Natural gas prices are also at historic lows thanks to fracking, which is lowering heating bills and the cost of goods and services throughout the economy. A report from the consulting firm IHS finds that the average household had an additional $2,000 in disposable income last year because of lower energy prices, which it says will climb to $2,700 in 2020 and $3,500 in 2025. Ban fracking, as Democratic presidential contenders Bernie Sanders and Hillary Clinton want to do, and these savings would quickly evaporate.
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| Posted by:Fred |
| #3 There is no limits on the lunacies the new age hippie religion is spawning... |
| Posted by: Deadeye McCoy4554 2016-04-02 22:35 |
| #2 Who benefits from a ban on fracking? Energy prices would rise, with benefit to foreign producers. Rising prices would bring renewed calls for controls on profiteering oil companies, and nationalization - giving government control over one more of civilizations essential elements. And the fear mongers themselves get more power. |
| Posted by: Glenmore 2016-04-02 14:48 |
| #1 People have been convinced fracking causes immense environmental damage, and earthquakes. Fear mongering is big business for some. (There is a small element of truth in the claims, but of course when the environment is at stake there is no cost-benefit analysis permitted!) |
| Posted by: Glenmore 2016-04-02 14:45 |